A company sells travel mugs online for $9.They purchase the mugs for $4 and charge the customers $2 for shipping and handling.Cost of goods sold per mug is:
A net loss occurs when:
A)not enough cash exists.
B)total revenues exceed total expenses.
C)total expenses and losses exceed total revenues and gains.
D)total revenues and dividends exceed total expenses and losses.
The balance sheet is also known as the:
A)statement of profit and loss.
D)statement of financial position.
The balance sheet reports information about:
D)assets,liabilities,and owners' equity.